MONEY MOVES

10 months ago

Report: Putin’s Family Used Estonian Bank to Launder Money

Vladimir Putin’s family and Russia’s spy agency have reportedly used an Estonian branch of a Danish bank to launder money, according to the Danish newspaper Berlingske. The newspaper obtained a leaked document from Danske Bank that indicated the leadership knew “of far more serious conditions than previously stated.” That paper also found the bank closed 20 accounts in 2013 at its Estonia branch following a whistleblower report claiming illegal activity was happening there. At the time, the names tied to those accounts were kept secret. The Guardian also found that a group of firms, including Lantana Trade LLP, filed “false accounts” that were tied to Russian owners. Danske Bank had previously admitted to illegal activity occurring between 2011-2014, including billions of dollars in money laundering from Azerbaijan.